Toronto Dominion Bank Purchases 2,605 Shares of Cloudflare, Inc. (NYSE:NET)

Toronto Dominion Bank grew its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,763 shares of the company's stock after buying an additional 2,605 shares during the quarter. Toronto Dominion Bank's holdings in Cloudflare were worth $4,282,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Square Peg Capital PTY Ltd. purchased a new stake in shares of Cloudflare in the fourth quarter valued at $7,215,000. Rafferty Asset Management LLC boosted its position in shares of Cloudflare by 9.3% during the fourth quarter. Rafferty Asset Management LLC now owns 24,040 shares of the company's stock valued at $2,589,000 after buying an additional 2,053 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Cloudflare during the fourth quarter worth $386,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cloudflare in the 4th quarter valued at about $163,000. Finally, Quantinno Capital Management LP grew its stake in Cloudflare by 31.5% in the fourth quarter. Quantinno Capital Management LP now owns 39,575 shares of the company's stock worth $4,261,000 after purchasing an additional 9,482 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,098 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $156.83, for a total value of $5,504,419.34. Following the transaction, the insider now owns 6,390 shares in the company, valued at approximately $1,002,143.70. This represents a 84.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 2,311 shares of Cloudflare stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $107.75, for a total transaction of $249,010.25. Following the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at $44,545,250.75. This trade represents a 0.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 511,913 shares of company stock valued at $66,395,593 over the last ninety days. Corporate insiders own 12.83% of the company's stock.

Cloudflare Price Performance

NYSE NET traded up $0.28 on Wednesday, reaching $162.04. 650,257 shares of the stock traded hands, compared to its average volume of 3,149,615. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a market cap of $55.92 billion, a price-to-earnings ratio of -736.67 and a beta of 1.78. The firm's fifty day simple moving average is $124.25 and its 200 day simple moving average is $123.24. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Cloudflare's quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of Cloudflare from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Jefferies Financial Group lowered their price objective on Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, May 9th. Royal Bank of Canada cut their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Baird R W lowered Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $141.79.

Cloudflare Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.